Previous Posts
- THE US LABOR FORCE PARTICIPATION RATE SINCE 2007
- $55 MILLION FINE FOR US CONTRACTOR
- CONVENTIONAL WISDOM HAS A BIRTHDAY!!!!
- WHAT I LEARNED FROM FRANK FROM MICROSOFT
- THE BUDGET AND ECONOMIC OUTLOOK: 2014 TO 2024
- THE US ECONOMY IS EXPECTED TO GROW BY UP TO 3% THI...
- YELLEN ON INFLATION
- US CONSTRUCTION MARKET WILL GROW RAPIDLY TO 2025!
- READY TO HELP WITH POST HURRICANE SANDY RECOVERY E...
- IRON ORE PRICES FALL
Archives
- May 2011
- June 2011
- July 2011
- August 2011
- September 2011
- November 2011
- December 2011
- February 2012
- March 2012
- May 2012
- June 2012
- September 2012
- October 2012
- October 2013
- November 2013
- January 2014
- February 2014
- March 2014
- April 2014
- May 2014
- July 2014
Follow us!
Sunday, October 27, 2013
US CONSTRUCTION MARKET WILL GROW RAPIDLY TO 2025!
At a time when the US
economy is seemingly past the latest danger point (the recent government shutdown), it is heartening to learn that the US construction
market is forecast to be one of the world’s fastest growing in the period to
2025.
In our latest report
(for Q3 2013), we at Rider Levett Bucknall believe that while the U.S. construction industry is
continuing to recover, the trend remains the same as it has for the last
several years; slow and uneven. Housing continues to lead the expansion, trying
to keep up with population growth, while commercial real estate is coming back
more quickly in cities where vacancy rates are lowest. Activity in the hospitality
sector is relatively strong but government activity remains weak due to constrained
budgets.
Looking further ahead, the benchmark global study
“Global Construction 2025” (by Global Construction Perspectives and Oxford
Economics) predicts that the global construction market will grow by 70% to
reach $15 trillion by 2025, with meteoric growth concentrated in three
countries - China, the US and India; they account for 60% of the growth between
them.
The outlook for the US is very positive, with growth
of over 75% forecast between 2012 and 2025. Our rapidly increasing population
means that the country will need to build 20 million homes by 2025 (1.5
million a year which is consistent with the trend that we have reported in the past).
The outlook for Canada is also strong, with close
trade links to the US, high rates of population growth and the exploitation of
oil and shale gas reserves all helping to boost construction output. In
addition, there is a need to improve Canada’s infrastructure and both the federal
and provincial governments have long-term investment plans for this.
So, all in all, good longer term prospects in both countries which is definitely good news!
posted by The QS 0 Comments